• February 23, 2023

DALLAS, TEXAS, February 23, 2023 — The Federal Home Loan Bank of Dallas (Bank) today reported net income of $115.9 million for the quarter ended December 31, 2022. In comparison, for the quarters ended September 30, 2022 and December 31, 2021, the Bank reported net income of $94.7 million and $47.2 million, respectively. For the year ended December 31, 2022, the Bank reported net income of $317.2 million, as compared to $164.4 million for the year ended December 31, 2021. 

Total assets at December 31, 2022 were $114.3 billion, compared with $89.6 billion at September 30, 2022 and $63.5 billion at December 31, 2021. The $24.7 billion increase in total assets for the fourth quarter was primarily attributable to increases in the Bank's advances ($24.7 billion), long-term investments ($1.1 billion) and mortgage loans held for portfolio ($0.2 billion) partially offset by a decrease in the Bank's short-term liquidity holdings ($1.2 billion). The $50.8 billion increase in total assets for the year ended December 31, 2022 was attributable primarily to increases in the Bank's advances ($44.3 billion), short-term liquidity holdings ($5.9 billion) and mortgage loans held for portfolio ($0.9 billion), partially offset by a decrease in the Bank's long-term investments ($0.5 billion). 

Advances totaled $68.9 billion at December 31, 2022, compared with $44.2 billion at September 30, 2022 and $24.6 billion at December 31, 2021. The Bank's mortgage loans held for portfolio totaled $4.4 billion at December 31, 2022, as compared to $4.2 billion at September 30, 2022 and $3.5 billion at December 31, 2021.

The carrying value of the Bank's long-term held-to-maturity securities portfolio, which is comprised substantially of U.S. agency residential mortgage-backed securities (MBS), totaled $0.3 billion at December 31, 2022, compared to $0.3 billion and $0.6 billion at September 30, 2022 and December 31, 2021, respectively. The carrying value of the Bank's long-term available-for-sale securities portfolio, which is comprised substantially of U.S. agency debentures and U.S. agency commercial MBS, totaled $15.1 billion at December 31, 2022, as compared to $14.0 billion at September 30, 2022 and $15.3 billion at December 31, 2021. At December 31, 2022, September 30, 2022 and December 31, 2021, the Bank also held a $0.1 billion long-term U.S. Treasury Note classified as trading. 

The Bank's short-term liquidity holdings are typically comprised of overnight interest-bearing deposits, overnight federal funds sold, overnight reverse repurchase agreements, U.S. Treasury Bills, U.S. Treasury Notes and, from time to time, may also include cash held at the Federal Reserve. At December 31, 2022, September 30, 2022 and December 31, 2021, the Bank's short-term liquidity holdings totaled $25.1 billion, $26.3 billion and $19.2 billion, respectively. 

The Bank's retained earnings increased to $1.834 billion at December 31, 2022 from $1.741 billion at September 30, 2022 and $1.558 billion at December 31, 2021. On December 28, 2022, a dividend of $22.6 million was paid to the Bank's shareholders.

Additional selected financial data as of and for the quarter and year ended December 31, 2022 (and, for comparative purposes, as of September 30, 2022 and December 31, 2021, and for the quarters ended September 30, 2022 and December 31, 2021 and the year ended December 31, 2021) is set forth below. Further discussion and analysis regarding the Bank's results will be included in its Form 10-K for the year ended December 31, 2022 to be filed with the Securities and Exchange Commission.

About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System, which was created by Congress in 1932. The Bank is a member-owned cooperative that supports housing and community development by providing competitively priced loans (known as advances) and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the Bank's website at fhlb.com.  




 

Contact Information:

Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
214.441.8445